New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-11-12
OUIZZING TELEPHONE MEN.
THE ASSEMBLY COMMITTEE AT WORK.
TAKING UP THE AFFAIRS OF THE NEw-YORR AND
PENNSYLVANIA COMPANY,

TAKING UP THE AFFAIRS OF THE NEw-Y0RR AND
PENNSYLVANIA COMPANY.
The Assembly Committee Investigating the telephone
companies OF this State gave its time yester
day to an examination OF the NewYOrk
and Pennsylvania Telephone and Telegraph
Company The territory OF this corporation embraces
Broome. Tiogs Chemung. Schuyler Steuben Allegheny.
Caaraugus and Chautauqua counties this State and
susquehanna Bradford Tioga, Potter. Mexican. Warren,
Erie and Crawford counties in Pennsylvania The pres
ident is c. F. Cutler who is also president OF the staten
Island Telephone Company. Joel G. Clark is secretary
and treasurer of both companies also.
The New-York and Pennsylvania Company Mr. Clark
said organized on October q, $780, with a capital
stock OF $4,000. raised the next day TO 81 900 600 The
Bell Telephone Company was represented by two
directors and it held $3.50 900 in stock OF which one
half subsequently surrendered OF the OF
stock $35 900 sold for cash fund and S5I 900
stock issued for the property Of existing companies
in Binghamton, jamestown, Dunkrk and Ithaca ID this
State and in Warren and Bradford in Pennsylvania.
The number OF stations bought was 1887. The new
company took possession on November |. 1883 The
real value Of all the tangible property Mr. Clark esti'
mated at SlZ5 900. One.half OF the capital stock
surrendered in September 1856. with the understanding
hat the Bell company should have 35 per cent OF adi
tional stock Issued Since then $50 shares had been
ressucd for S35 900 cash.
The company had In July last. Mr. Clark continued,
23l9 exchange stations and 800 toll stations, with
mileage OF toll lines OF 1872, with sil additional miles.
The gross earnings to July last S59S JlO So The
construction expenses S2l5,J32 90. OF which
$3.50 30 hal been paid out IN the first fourteen
months OF the companys existence The total
ings SlI020l O. The dividends for the period
We're $l0l 00) leaving surplus of $392Ol 81, which
WAS applied 10 construction The only Indebtedness
WAS account current The American Bell Company,
the witness said. received Is per cent commission
tolls and SlI year each set of Instruments
EARNING FOUR TO SIX PER CENT.
Cross examined by Mr. Camp Mr. Clark declared that
the actual earnings the telephone business proper for
the four years had been Sl3i. A. The actual in.
vestment, including the Bell company stock for the
franchise had given a OF from BIT to 5.js per
cent Including the Bell telephone capital, the per cent
had 5.3S, 5.3l, g. 10 10 December 81 l--6, and
the subsequent year the basis Of $4,000 Bell
stock alde IL was 55S per cent.
william y. Esabrook of Elmira, the general manager
OF the company was examined a. 10 details or cOnsruc
ton He admitted that there lots OF kichcrs
about rates. but ne had never failed to convince bust
man Of his error. There were deadheads, too.
These i'll part were municipal authorities as such while
no city official had any private privileges some twenty.
eight railroad companies were apparent dea theads"
We calculate that railroads shall get ahead Of
us said the witness, for calculate To even mp on
freight"
Mr. Clark WAS recalled by Mr.. Camp 10 say that the
tot diyi lends of SlOi 900 since the organization of
tue company average of 2.42 per cent on the
I'll 900 900 stock OF the company.
The Westchester Telephone Company will be taken up
tod